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UPDATE: St Elias Back Up 5% at Midday After Last Friday's Appointment of 3 New Directors to Board; Shrs Halved Earlier last Week

St. Elias Mines Ltd. (SLI.V) are up nearly 5% at midday, building on the gains it made last Friday after announcing that Paul F. McDonald, Lloyd C. Brewer and Donald M. Bastien have been elected to the St. Elias board of directors.

St Elias shares were on a roller coaster ride last week. The shares, which began the week near $1.80, dipped to year lows just above 60 cents on Wednesday, Jan 11.

Last Wednesday, St Elias announced that Duncan Bain and Allan St. James have resigned as directors of the company effective that day. This came after the company's stock all but halved following the release of its 2011 diamond drilling gold results of its Tesoro Gold Project in Peru.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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